Work Address :
Leawood Executive Center I
Job Description :
Focuses on the performance and operations of the underlying collateral for Commercial Real Estate loans as well as default loan management. Works closely with other teammates to monitor collateral performance by utilizing industry metrics and providing clients customized reports, monitors loan compliance relating to the underlying collateral and provides certain deliverables to assist clients in managing risk. Managers focus on management, development and performance of teammates whose responsibilities cover numerous aspects of monitoring the Commercial Real Estate loans which are part of the Pillar Investor Services Group a division of SunTrust Bank.
- Monitor assigned portfolio to ensure compliance with loan servicing agreements and borrower compliance with loan documents
- Administer borrower requests including, but not limited to, assumption, defeasance, partial release, collateral exchange, modification, waiver, etc. in accordance with ISG established policies and procedures, and applicable loan documents and servicing agreements
- Generate income through transaction fees and the timely collection of late charges and default interest (where appropriate)
- In accordance with ISG established policies and procedures, industry standards and servicing agreements (including consumer credit reports for recourse borrowers):
- Conduct and review collateral property inspections as assigned or performed by 3rd party vendors and follow up with borrower to remedy identified deferred maintenance.
- Collect, review and analyze (as required) property operational reports and borrower/guarantor financial statements
- Review monthly delinquency reports and monitor loans in assigned portfolios that meet established client or industry Watch List criteria. Coordinate collection inquiries with Loan Administrator on assigned portfolios to ascertain nature of default, borrower’s intentions with respect to collateral preservation and loan reinstatement
- Assist Sr. Asset Managers with development of Loan Workout/Resolution plans as needed
- Implement Loan Workout/Resolution plan as approved under appropriate delegated or client authority
- Develop and revise as appropriate, initial Loan Workout/Resolution plan as appropriate identifying among other things, cause of default, borrower’s intentions towards collateral preservation and loan reinstatement, collateral market analysis, preliminary legal remedies analysis, collateral/asset value enhancement, and disposition strategies with recommendation
- Review reserve draw requests, payoff quotes, insurance loss administration and escrow analysis prepared by Loan Administrator assigned to portfolio to ensure compliance with established ISG policies and procedures, applicable loan documents and servicing agreements.
- Assist Loan Administrators as needed in executing borrower contact during a Significant Market Event
- Administer REO activities as needed (oversee property management, brokerage/sales, etc.)
- Maintain complete record of approved actions and borrower and lender client communication
- Provide appropriate instructions to Loan Administrator for posting and disbursing funds as needed and for funds received on nonperforming loan
- College degree or academic achievement in Real Estate, Law, Finance, Management, Journalism or Communication/Rhetoric or equivalent work experience
- Strong analytical skills (property operations, borrower financials and market performance)
- Strong PC skills, including a demonstrated proficiency with Microsoft Office applications
- Strong written and verbal communication skills. Demonstrated ability to clearly convey loan status and develop loan workout/resolution plan (nonperforming loans).
- Eligible to manage or perform loan origination or servicing functions under Mortgage Investor or government agency guideline requirements
- Commercial or multifamily property leasing, sales, management and/or ownership experience
- Consumer debt collection or counseling experience
- Prior Investment property ownership or management experience
- Prior experience in asset recovery, investigative reporting, mediation or dispute resolution
- Prior experience with Enterprise LMS servicing platform
Equal Opportunity Employer: SunTrust supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer. SunTrust does not discriminate against individuals on the basis of race, creed, color, gender, religion, national originTo review the EEO Poster, copy and paste the following link into your browser: http://www1.eeoc.gov/employers/upload/eeoc_self_print_poster.pdf http://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf